Martin Abbott is to be the new chief executive of the LME from 2 October 2006.
He joins the LME from Metal Bulletin Plc where he was, most recently the president and publisher of AMM LLC and publisher and editor-in-chief, metals, minerals and mining division. His earlier career includes a period of work within the LME and direct experience within two metals trading organisations.
There will be an orderly succession. Simon Heale will leave the Exchange in accordance with his previously advised plans.
On announcing the appointment, Donald Brydon, chairman of the Exchange said: “I am delighted that Martin Abbott is to become chief executive of the LME.
“Martin’s experience encompasses practical involvement in the metals industry and an in-depth grasp of sophisticated business and management. He also brings many already established relationships with key participants of the LME community and the wider exchange landscape.
“The exchange landscape is fast changing and leading the LME during a period of such change, while ensuring its continued success, is vital.
“His appointment was made from a very strong field of candidates and is the result of a unanimous decision by the nominations committee, in accordance with a clearly defined process.”
Commenting on his appointment, Mr Abbott said: “The LME enjoys the privilege on being the world’s foremost metals exchange. In recent years it has also come to be associated with the innovative introduction of new contracts, such as plastics and in the future, steel. Extending and honing this dynamic impetus is very important.
“I already have spent 22 years in and around this industry and I am looking forward to building on current relationships and to quickly forging new relationships for the benefit of the LME.”
